Regal Rexnord (RRX) – Research Analysts’ Recent Ratings Updates

A number of research firms have changed their ratings and price targets for Regal Rexnord (NYSE: RRX):

• 10/16/2024 – Regal Rexnord was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/14/2024 – Regal Rexnord is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $200.00 price target on the stock.
• 10/8/2024 – Regal Rexnord was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/2/2024 – Regal Rexnord had its price target raised by analysts at Barclays PLC from $180.00 to $190.00. They now have an “overweight” rating on the stock.
• 9/30/2024 – Regal Rexnord was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/19/2024 – Regal Rexnord was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/19/2024 – Regal Rexnord had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $200.00 price target on the stock.

Regal Rexnord Stock Performance

NYSE:RRX opened at $172.96 on Tuesday. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of -8,648.00, a PEG ratio of 1.87 and a beta of 1.04. The firm’s fifty day simple moving average is $163.40 and its 200 day simple moving average is $155.90. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the business posted $2.56 EPS. The business’s quarterly revenue was down 12.5% on a year-over-year basis. As a group, equities research analysts expect that Regal Rexnord Co. will post 9.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors increased its position in shares of Regal Rexnord by 4.7% in the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Regal Rexnord by 7.1% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after purchasing an additional 209,776 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after buying an additional 563,853 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Regal Rexnord by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after buying an additional 8,159 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Regal Rexnord by 24.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock valued at $152,183,000 after buying an additional 222,775 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.